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Inflation picks up again in June, rising at 2.7% annual rate
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Trump Fires Data Chief on Bad Job News, Gets Chance to Tilt Fed https://www.bloomberg.com/news/articles/2025-08-02/trump-fires-data-chief-on-bad-job-news-gets-chance-to-tilt-fed?utm_source=website&utm_medium=share&utm_campaign=copy President Donald Trump on Friday fired Bureau of Labor Statistics Commissioner Erika McEntarfer, hours after the agency reported that job growth in the U.S. had slowed to a near-halt. “We need accurate Jobs Numbers. I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY,” Trump posted on Truth Social. The stunning move came the same day that the BLS reported a gain of just 73,000 nonfarm jobs in July, below market expectations. Democratic Sen. Ron Wyden of Oregon called President Donald Trump’s firing of Bureau of Labor Statistics Commissioner Erika McEntarfer “the act of somebody who is soft, weak and afraid to own up to the reality of the damage his chaos is inflicting on our economy.” Senate Minority Leader Chuck Schumer of New York called Trump a “bad leader” who “shoots the messenger” for a weaker-than-expected U.S. jobs report. Labor Secretary Lori Chavez-DeRemer said in a post on X that BLS Deputy Commissioner William Wiatrowski will serve as Acting Commissioner” of the BLS until a permanent replacement is installed.
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U.S. added just 73,000 jobs in July and numbers for prior months were revised much lower Nonfarm payroll growth was slower than expected in July and the unemployment rate ticked higher, raising potential trouble signs for the U.S. labor market. Job growth totaled 73,000 for the month, above the June total of 14,000 but below even the meager Dow Jones estimate for a gain of 100,000. June and May totals were revised sharply lower, down by a combined 258,000 from previously announced levels.
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Thailand launches airstrikes on Cambodian military targets in major escalation of border dispute
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UK inflation rose to a hotter-than-expected 3.6% in June after reaching 3.4% in May. The inflation data will be closely looked at by the Bank of England ahead of its next meeting in August. The U.K. is battling stubbornly high inflation rate and lackluster economic growth.
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China’s second-quarter GDP growth slows to 5.2% as economists warn of mounting headwinds #ChinaEconomy
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